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STI
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mirage
Veteran |
03-Oct-2007 17:25
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mirage
Veteran |
03-Oct-2007 17:21
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mirage
Veteran |
03-Oct-2007 16:24
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Pinnacle
Master |
03-Oct-2007 15:24
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STI came down as fast as it went up. Under correction now, which is healthy in the long run. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
03-Oct-2007 11:31
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Rebounced in tandem with HSI. Reaching new record high and recording closing. |
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Pinnacle
Master |
03-Oct-2007 10:21
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The index is weakening. May go below water in the afternoon... following HSI... |
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Pinnacle
Master |
03-Oct-2007 09:16
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Regional stocks scale new summits. Led by a resurgent Wall Street whose sub-prime credit worries appear to be now forgotten, regional stocks yesterday powered to new highs with Hong Kong leading the charge with a 4% jump. The Straits Times Index (STI) first shot up 75 points to an intraday high of 3,829 but finished a net 38.61 points higher at 3,793.83, its third all-time high in the previous four sessions. Almost all the index's gains came from rises in the banks and the Singapore Exchange (SGX), though Keppel Corp and property stocks also contributed. China stocks, however, ended mixed after enjoying heavy play over the past week. Hong Kong's Hang Seng Index rocketed 1,057.28 points to 28,199.75, surpassing the 28,000-level for the first time. The H-share index, which tracks mainland China-registered companies listed in Hong Kong, rose 5.6% to a record 17,973.87. Elsewhere in the region, all major indices finished stronger - Malaysia's KLCI added 1.6%, the Philippines Composite 2.2%, and the Jakarta Composite 2.7%. Brokers pointed to the US, where the Dow Jones Industrial Average on Monday reclaimed the 14,000 level it had first crossed on July 24 with a 191-point jump to a record 14,087. According to wire reports, Monday's euphoria on Wall Street came after release of a weak manufacturing report which apparently confirms the market's consensus that more interest rate cuts will be needed to stave off a recession. This, after the US central bank lowered its short- term interest rates by 50 basis points to 4.75% on Sept 18. Most analysts expect a further 50 points to be cut before the end of the year. Shares of China plays slide as buying peters out. Shares of Singapore-listed Chinese firms, also called 'S-shares', fell yesterday, as high valuations dented a brief rally that had been sparked by hopes that China-based funds would invest in Singapore's China plays. Shares of Chinese shipbuilder Cosco Corp - Singapore's top valued S-share - fell 4.3% after surging 18% on Monday on hopes the stock would get a boost from Chinese funds. Investors started an S-share buying frenzy on Friday, after Deutsche Bank's China fund management arm said it would launch a US$4 billion fund investing in Singapore, Hong Kong and New York markets. These funds, launched under China's Qualified Domestic Institutional Investor (QDII) scheme, allow Chinese investors to participate indirectly in foreign markets such as Singapore. But on Monday, some market players were already cutting their stakes in S-shares, voicing concerns that the price spike was overdone as the China plays had become too pricey. |
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Pinnacle
Master |
02-Oct-2007 17:27
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Its been cheonging for days and is tomorrow going to be a correction day? S-shares had its correction in the afternoon today, which sesdeq corrected in tandam. |
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lancecsc
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02-Oct-2007 17:03
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Hi Kilroy, I wonder what the impact on the china shares here. anyone care to comment? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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KiLrOy
Master |
02-Oct-2007 16:18
Yells: "I buy only what I can see." |
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S-Shares?? following the A and B shares in China? OMG.. I dont think I ever hear any traders in SGX calling the China shares listed in SG, S-Shares though. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
02-Oct-2007 15:05
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SINGAPORE, Oct 2 (Reuters) - Shares of Singapore-listed Chinese firms, also called "S-shares", fell on Tuesday, as high valuations dented a brief rally that had been sparked by hopes that China-based funds would invest in Singapore's China plays. Shares of Chinese shipbuilder Cosco Corp Investors started an S-share buying frenzy on Friday, after Deutsche Bank's China fund management arm said it would launch a $4 billion fund investing in Singapore, Hong Kong and New York markets. [ID:nSHA202663] These funds, launched under China's Qualified Domestic Institutional Investor (QDII) scheme, allow Chinese investors to participate indirectly in foreign markets such as Singapore. But on Monday, some market players were already cutting their stakes in S-shares, voicing concerns that the price spike was overdone as the China plays had become too pricey. "The reason to be optimistic on S-chips is their perceived valuation discount to H-shares and A-shares," CIMB analyst Kenneth Ng said in a note. H-shares are Hong Kong-listed shares of Chinese firms, while A-shares refer to Chinese stocks listed in China. Ng estimated the QDII changes could pump about $11 billion worth of Chinese money into markets outside Hong Kong. "We point out that established leaders and institutional favourites actually do not trade at significant discounts to valuations of the H-share index." Based on Reuters data, Cosco, with a market cap of $10.5 billion and seen as one of the best proxies for China's blistering economic growth, currently trades at 51 times forward earnings. Singapore-listed peer Yangzijiang Shipbuilding Holdings Hong Kong-listed Guangzhou Shipyard International Co <600685.SS> <0317.HK>, which has a market value of $4.8 billion, trades at 36 times forecast earnings, while its Shanghai-listed stock has a P/E of 63. "When the dust settles, few S-chips will stand out as having real potential for QDII investment," said CLSA analyst Justin Yeoh. Despite the valuation concerns, market watchers said China stocks would still be in play in Singapore in the coming months because investors would continue stocking up on cheaper S-shares for the same reason underpinning the recent price surge. "We expect S-shares to close the gap with HK-listed peers as investors buy ahead in anticipation of actual QDII flows," Merrill Lynch analyst Eddy Loh said in a note. |
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Pinnacle
Master |
02-Oct-2007 15:01
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Global stocks hit an all-time high on Tuesday with financial companies in the driving seat as subprime losses set out by big banks, including Citigroup, calmed fears that the credit crunch would derail the global economy. The beaten-down dollar found brief respite from its lifetime lows reached on Monday, after Citigroup's Inc's Easing credit worries took the shine off gold's Guarded relief that the losses banks have taken from securities linked to risky U.S. mortgages, which have turned up in the portfolios of institutions in countries such as Australia and Singapore, are largely in the open was set to drive European share markets higher. Financial bookmakers in London expect the FTSE 100 index <.FTSE> to open 30 to 32 points higher, the DAX <.GDAXI> to open 39 to 47 points up and the CAC 40 <.FCHI> to gain 21 to 30 points. Citigroup helped drive the Dow Jones industrial average <.DJI> to a record high on Monday after its chief executive said that third-quarter profit would drop 60 percent but the financial services company would "return to a normal earnings environment in the fourth quarter." By 0556 GMT, MSCI's All-Country World Index <.MIWD00000PUS> was up 0.3 percent, just off a record high of 417.34 set earlier. MSCI's Asia-Pacific ex-Japan <.MIAPJ0000PUS> and emerging market <.MSCIEF> indexes also hit record peaks. Asia's biggest market, Tokyo, closed 1.2 percent higher, helped by the dollar's firmer tone against the yen. "Investors like a record finish in the United States. But the Nikkei isn't powering higher as investors are feeling a bit concerned about Japanese corporate earnings," said Naoki Koga, senior fund manager at Toyota Asset Management. "Financial stocks had been sold too sharply and they are returning to where they were. They are unlikely to keep pushing much higher, though." Citigroup's announcement followed similar hefty losses for European investment bank UBS AG FINANCIAL HAND But relief that the impact may ease in the near term boosted financials. Australia's benchmark S&P/ASX 200 index <.AXJO> hit a record high at 6,666.8 points and closed up 1.5 percent at 6,659.9, lifted by financials such as Babcock & Brown Japan's Nikkei stock average <.N225> cleared 17,000 points for the first time in nearly eight weeks, after financial shares such as Mitsubishi UFJ Financial Group Inc <8306.T> gained. Seoul's KOSPI index <.KS11> closed 2.62 percent up at 2,014.09, notching an all-time closing high and marking its biggest daily gain since September 19. Hong Kong's benchmark Hang Seng Index <.HSI> hit an all-time high above 28,200. Singapore's Straits Times Index <.STI> also struck a record for the fourth straight trading session, thanks to gains in banks such as DBS Group Holdings Japanese government bonds slipped, handing back gains from the previous day as the jump in Tokyo shares prompted selling of safe-haven debt. December 10-year futures <2JGBv1> fell 0.21 point to 134.88, slipping towards a six-week low of 134.32 struck last week. U.S. Treasuries were steady, eyeing pending home sales data due later in the day. The yield on the benchmark 10-year JGB The benchmark 10-year U.S. Treasury note |
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Fairygal
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02-Oct-2007 12:13
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For the last few trading days, if your timing is swee swee, you will be laughing all the way to the bank cos the variations in price range is so wide, so volatile....and so exciting! Even for rally, timing is everything! | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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amateur99
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02-Oct-2007 12:12
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thanks, pinnacle. i just read about primepartners china index.. can see it from sgx market indices. but its only made up of 25 S-chip. http://www.channelnewsasia.com/stories/singaporebusinessnews/view/233220/1/.html |
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Pinnacle
Master |
02-Oct-2007 11:54
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S-chip referring to china stocks listed in SGX. I had a few china stocks in my watchlist... the main one e.g. YZJ, CAO, yuanbang etc... and they had dropped below today's opening price. YZJ and CAO had dipped 10c or more!!! |
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amateur99
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02-Oct-2007 11:45
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pinnacle, do you refer 'S-chip' as chinese companies that listed in singapore? is there any portal that list them specifically or special index for them? or we have to see them together with the rest of singapore listed? thanks for enlightening | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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timewatch
Senior |
02-Oct-2007 11:41
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what would be the next approximate all time high for the STI. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
02-Oct-2007 11:30
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S-chip is dropping... profit taking or QDII fund movement has some changes? |
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Pinnacle
Master |
02-Oct-2007 09:38
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China stocks extend rally as brokers chime in. China stocks listed in Singapore surged for the second consecutive day as investors heeded the almost unanimous advice of brokers. The feeling is that liquidity inflows from new mainland funds that are allowed to invest overseas will lift prices of S-chips here. Yesterday, the PrimePartners China Index jumped 13.5%. In comparison, the Straits Times Index gained 1.3% and the UOB Sesdaq Index rose 2.4%. Between last Friday and yesterday, the China Index has put on some 20%. Among the biggest-advancing China stocks listed on the Singapore Exchange - known as S-chips - were big capitalisation entities like Cosco, Sino- Environment, Yanlord and Yangzijiang. Last week it was reported that a third fund under China's Qualified Domestic Institutional Investor (QDII) scheme was approved and allowed to invest outside Hong Kong. In the month of September, two QDII funds were launched and raised US$8 billion dollars within days. China is allowing the setting up of QDII funds in order to channel some of the vast amount of domestic liquidity overseas and ease the pressure on the yuan as well as its high asset prices. |
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Pinnacle
Master |
02-Oct-2007 09:06
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Singapore's Straits Times Index <.STI> struck a record on Tuesday, the fourth straight trading session that saw the index at all-time highs, due to gains in banks and in index heavyweight Singapore Telecommunications. By 0102 GMT, the benchmark index stood at 3,825.14 points, up 1.86 percent. The STI has gained 28 percent since the start of the year. |
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